Stripe, a digital payments startup company founded five years ago, offers simple software and services for online merchants. It is similar to PayPal in that it accepts payments through credit or debit cards and charges small fees for these transactions.
The company has been able to gain additional backing from investors like Visa, American Express, and Sequoia Capital in its new round of funding. Stripe did not provide any details on the amount of new funding but said that it is less than $100 million.
Digital Payments Landscape
Digital payments is becoming a more competitive field these days, with the emergence of cryptocurrencies like bitcoin that guarantee minimal to zero transactions costs. The recent split of Ebay and PayPal in operations has also allowed the latter to put more focus in online payments and expand its services.